Business Loans for Masonry and Stone Contractors
Looking for business loans for masonry and stone contractors? The SBA may be the answer. This $100,000 masonry and stone contractors loan was issued by a New Mexico bank.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Alamogordo, New Mexico was able to borrow $100,000 from Western Bank. The SBA made the loan possible by guaranteeing $80,000 of this New Mexico small business loan.
SBA Loan Borrower
COMPANY TYPE: MASONRY, STONE SETTING, AND OTHER STONE WORK
ALAMOGORDO, NM 88310
SBA Loan Lender
WESTERN BANK
500 9TH & MARYLAND
ALAMOGORDO, NM 88310
This lender issued this particular SBA loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
1741 - Masonry, Stone Setting, and Other Stone Work
NAICS Code
235410 - Masonry and Stone Contractors
Loan Approval Date
10/25/2000
Loan Approval Gross Amount
$100,000
Loan Approval from the SBA
Of the total $100,000 loan amount, the SBA guaranteed $80,000.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company
had 15 employees. The loan application did not indicate that the business promised to use the funding to increase staffing levels or retain any existing employees.
Great, But How Can I Get an SBA Loan for My Business?
SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.
SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Western Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!
About This SBA Loan Information:
All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.
Related Links:
Banking Deregulation's Effects on Entrepreneurship
Find an SBA Lender in Alamogordo, New Mexico
SBA Participating Banks in New Mexico